Police Arrest Alleged Fraudster Over ₦320m Scam, Recover Fake Presidency Number Plate
Operatives of the Special Investigations Team (SIT) under the Force Criminal Investigations Department (FCID) Annex in Lagos have arrested Chinedu Ernest Ngwaka for allegedly orchestrating a fraudulent scheme involving ₦320 million.
Ngwaka, who falsely claimed to be a licensed Bureau De Change (BDC) operator, was also found in possession of a fraudulent Presidency number plate on his Toyota Hilux and a fake identity card allegedly issued by the Federal Ministry of Labour and Employment.
According to a statement by the Public Relations Officer of FCID Annex Lagos, Mayegun Aminat, shared via her X account, the investigation began after a petition was submitted on September 9, 2024, to the Assistant Inspector-General of Police by Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited.
The petition accused Ngwaka and his wife, Janet Onyekachi Ngwaka, of defrauding Mr. Unachukwu of ₦320 million between March and May 2024. The payments were made to their companies, Edunaco Multiple Resources Limited and Bright Janes World, purportedly to secure for the procurement of goods from China.
Further investigations revealed that Ngwaka provided fraudulent documents, including a telex confirmation from Zenith Bank, indicating the transfer of funds in two tranches of each. However, the Chinese suppliers confirmed they never received the funds.
Ngwaka also claimed to operate under Phobia BDC Ltd., but verification with the Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) revealed no affiliation, and the company’s license had been revoked earlier this year.
During the operation, police recovered the Toyota Hilux with the fake presidency number plate (02B679FG). Aminat disclosed that multiple other petitions against Ngwaka had been filed, including claims from Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha, seeking the recovery of ₦1 billion and ₦840 million, respectively.
The police confirmed that Ngwaka and his co-conspirators would be charged to court upon the conclusion of the investigation. The Assistant Inspector-General of Police, FCID Annex Lagos, urged the public to remain vigilant and report fraudulent activities. “Those involved in such illegal activities will face the full consequences of the law,” Aminat warned.
